Proficio Capital Partners LLC Makes New Investment in Cogent Biosciences, Inc. (NASDAQ:COGT)

Proficio Capital Partners LLC bought a new stake in Cogent Biosciences, Inc. (NASDAQ:COGT) during the fourth quarter, Holdings Channel reports. The institutional investor bought 11,895 shares of the technology company’s stock, valued at approximately $93,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. bought a new stake in Cogent Biosciences in the third quarter worth approximately $113,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Cogent Biosciences during the 3rd quarter worth about $134,000. Virtu Financial LLC bought a new position in Cogent Biosciences during the third quarter worth $147,000. New York State Common Retirement Fund grew its position in Cogent Biosciences by 10.5% during the fourth quarter. New York State Common Retirement Fund now owns 23,102 shares of the technology company’s stock worth $180,000 after buying an additional 2,200 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of Cogent Biosciences by 11.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 23,422 shares of the technology company’s stock valued at $183,000 after purchasing an additional 2,371 shares in the last quarter.

Cogent Biosciences Trading Down 2.0 %

Shares of NASDAQ COGT opened at $6.48 on Friday. Cogent Biosciences, Inc. has a 12 month low of $5.88 and a 12 month high of $12.61. The company has a market cap of $737.75 million, a price-to-earnings ratio of -2.61 and a beta of 1.80. The stock has a 50-day moving average price of $7.87 and a two-hundred day moving average price of $9.12.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on COGT shares. Robert W. Baird cut their price target on shares of Cogent Biosciences from $10.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. HC Wainwright decreased their price objective on shares of Cogent Biosciences from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Scotiabank started coverage on shares of Cogent Biosciences in a research report on Friday, March 7th. They set a “sector outperform” rating and a $17.00 price target for the company. Needham & Company LLC restated a “hold” rating on shares of Cogent Biosciences in a research report on Wednesday, February 26th. Finally, Piper Sandler raised Cogent Biosciences to a “strong-buy” rating in a research note on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $14.43.

Cogent Biosciences Company Profile

Cogent Biosciences, Inc, a biotechnology company, focuses on developing precision therapies for genetically defined diseases. Its lead product candidate includes bezuclastinib (CGT9486), a selective tyrosine kinase inhibitor designed to target mutations within the KIT receptor tyrosine kinase, including KIT D816V KIT D816V mutation that drives systemic mastocytosis, as well as other mutations in KIT exon 17, which are found in patients with advanced gastrointestinal stromal tumors.